Policy 3.1.9 Funds for Partnership Acquisition Projects

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 
ISLANDS TRUST CONSERVANCY 
BOARD POLICY 
 
 
 
 
Policy number: 3.1.9 
 
Title:  Funds for Partnership Acquisition Projects 
 
Approved By:  Islands Trust Conservancy Board      
  
  Date:  August 1, 2000   Resolution #:  TFB 00/339 
 
PURPOSE 
To provide  a  guideline  regarding  use  of  funds  raised  for  a  partnership  property  acquisition 
project.  
BACKGROUND 
The Islands Trust Conservancy can receive donations for specific property acquisitions and often 
works  in  partnership  with  other  organizations  to  purchase  and  protect  significant  areas.    In 
addition,  creative  methods  are  often  used  to  ensure  acquisition  opportunities  are  not  lost.  
These  may  include  purchasing  with  a  mortgage  or  having  contributions  toward  the  purchase 
provided  by  various  partner  groups.    There  may  be  times  when  the Islands Trust  Conservancy 
Board is responsible for contributing funds it has raised to another organization or conservancy 
to facilitate the purchase of property. 
Policy 
1. If the Islands Trust Conservancy chooses to work in partnership with other organizations to 
acquire a property for conservation purposes, it may, at the Board’s discretion, offer to 
assist in a variety of ways including: 
• In kind staff support; 
• In kind expert support (e.g., legal); 
• Assistance with project expenses (e.g., appraisals, survey, public awareness) 
• Holding title to the land or holding covenants on acquired properties; 
• Direct fundraising; or 
• Assistance with management initiatives. 

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 
2. Generally, the Islands Trust Conservancy Board will not commit to raising a specific amount 
of money toward an acquisition project. 
3. Funds  raised  by  the Islands  Trust  Conservancy for  a  specific  partnership  acquisition  project 
will be contributed toward the acquisition project as follows: 
• When  a  property  is  purchased  by  a  partner  group  using  a  mortgage, Islands  Trust 
Conservancy contributions  will  be  made  toward  the  last  mortgage  payment.    If Islands 
Trust   Conservancy has   raised   funds   greater   than   the   last   mortgage   payment 
requirement,  additional  funds  may  be  put  toward  mortgage  payments  immediately 
preceding the last mortgage payment to the extent possible. 
• When  all  partner  groups  are  contributing  the  funds  they  raised  to  one  of  the  partner 
groups  to  facilitate  the  acquisition, Islands  Trust  Conservancy will  provide  the  funds 
raised to the appropriate organization once it is certain that enough funds will exist with 
the contributions of all parties involved in the project. 
• In  other  acquisition  arrangements,  the  Board  will  direct  funds  to  the  project  based  on 
the policies in the Islands Trust Conservancy Plan and following discussion by the Board. 
REFERENCES 
2.3 Acquisition and Management of Land

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